Stocks move higher after Yellen remarks

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NEW YORK — U.S. stocks are higher as the new head of the Federal Reserve, Janet Yellen, signals that the central bank will continue to dial back its stimulus program if the economy keeps improving.

Investors also cheered news that Congress appears poised to raise the U.S. government’s borrowing limit without the political drama that happened late last year. That would avert the risk of a U.S. default.